Pricing strategy
-Compare actions taken against the marketing plan.
From our most recently marketing plan for price strategy we created a new brand for a new segment. We came to conclusion that this will give us the opportunity to increase sales and revenue. Our clients are willing to pay 3,123 and $3,293 for our products in North America and $2,844 and $3,338. Our prices are comparable to our competition and will bring greater sales in the future. For the new evolution in North America we decided to bring the price down to $2.950 with a rebate of $100. While for our new brand NM.2 in North America we brought the price to $3,245 with a rebate of $150. We brought the price down where our clients will feel comfortable paying. Looking at the Pro-Forma we were able to increase our profits by doing these changes. Now our goal is to do better in quarter 8 and upcoming years.
-Discuss departures from the marketing plan, including justification and outcomes.
Lowering our prices was a great idea to go with because it is showing in our numbers for last quarter. Since our future investments are low we are thinking of contributing factor to our sales. Also increase out advertisement ads by one. We also felt that adding one more sales person in Los Angeles will also work to having and additional person making more sales. Lastly, investing in R&D will boost future investments so it would definitely be a good idea moving forward with.
-Review significant events that affected the company and/or market
Competition is taught and would say it is the most significant event that is affecting our company and market. We been changing the pricing to see what the outcomes would be and continue to monitor daily.